For Q1 FY24, disbursements jumped 28% YoY to approximately Rs 12,150 crore.

The collection efficiency (CE) was constant at 96% for June 2023 as compared to June 2022. The current quarter's CE was at 94% similar to level seen in Q1 FY23.

Healthy disbursement trends during Q1 FY24 have led to business assets at approximately Rs 86,600 crore, registering a growth of around 4.6% over March 2023 and about 28% over June 2022.

Stage-3 is expected to be at 4.4% as against 4.5% as at March 2023 and Stage-2 expected at 6.5% from 6% as at March 2023, have remained stable.

The company said that it continued to maintain comfortable liquidity chest of about 3 months' requirement.

Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 8.7 million customers and has an AUM of over USD 11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.

The non-banking financial company's (NBFC) standalone net profit rose 13.9% to Rs 684.12 crore on 24% jump in total income to Rs 3,057 crore in Q4 FY23 over Q4 FY22.